Third, we worked hard to deepen reform and opening up, further strengthening the vitality of development.Reform was deepened across the board, and a good number of landmark and pillar reform initiatives were undertaken.

To balance the government-market relationship -- the pivotal issue in economic structural reform -- we continued reforms to streamline administration, delegate powers, and improve regulation and services. My administration's goal of cutting the number of items requiring government review by a third had been achieved ahead of schedule. On that basis, last year we cancelled the requirement on a further 165 items for review by State Council departments and authorized local governments. We also overhauled and standardized 192 items of intermediary services for government review as well as 220 items of approvals and accreditations for professional qualifications. We deepened institutional reforms in the business sector. We introduced an oversight model of random inspection and public release across the board(Note: The model comprises inspections of randomly selected entities by randomly selected inspectors and the public release of inspection results., and cut the price of electricity), made operational and post-operational oversight more effective, and promoted the Internet Plus government services model.

We pushed ahead with reforms to restructure and reorganize state-owned enterprises (SOEs) and introduce into them mixed ownership structures. We established a review system to ensure fair competition. We deepened resource tax reforms.

We improved measures for separating rural land ownership rights, contract rights, and management rights, and established a mechanism for determining whether people have been lifted out of poverty. We made progress in reforming the science and technology management system, gave greater autonomy to colleges and research institutes, and adopted profit distribution policies oriented toward increasing the value of knowledge. We opened up the elderly services market. We expanded the trials of comprehensive reforms in public hospitals and deepened reform of the evaluation and approval systems for medicine and medical equipment.

We formulated unified measures to determine and register natural resource rights. We piloted reforms for conducting direct oversight by provincial-level environmental protection agencies over the environmental monitoring and inspection work of environmental protection agencies below the provincial level, as well as crop rotation and fallow land reforms. The river chief system was introduced for all lakes and rivers across the country, and the mechanisms for compensating for ecological conservation efforts were improved. Reform has given new impetus to economic and social development.

积极扩大对外开放。推进“一带一路”建设，与沿线国家加强战略对接、务实合作。人民币正式纳入国际货币基金组织特别提款权货币篮子。“深港通”开启。完善促进外贸发展措施，新设12个跨境电子商务综合试验区，进出口逐步回稳。推广上海等自贸试验区改革创新成果，新设7个自贸试验区。除少数实行准入特别管理措施领域外，外资企业设立及变更一律由审批改为备案管理。实际使用外资1300多亿美元，继续位居发展中国家首位。

We opened China wider to the rest of the world. As we pushed ahead with the Belt and Road Initiative, we worked to increase complementarity between the development strategies of, and practical cooperation between, China and other countries along the routes.

The RMB was formally included in the IMF's Special Drawing Rights basket. The Shenzhen-Hong Kong Stock Connect was launched. We improved measures for promoting trade, and built 12 new integrated experimental zones for cross-border e-commerce, bringing about a steady recovery in the volume of import and export.

The new practices of pilot free trade zones in Shanghai and elsewhere were used to establish another seven pilot zones. The requirement for review and approval for setting up and making significant adjustments to foreign enterprises was replaced by a simple filing process, with the exception of a few areas where special market access requirements apply. In 2016, China utilized more than US$130 billion of overseas investment, continuing to rank first among developing countries.

四是强化创新引领，新动能快速成长。深入推进“互联网+”行动和国家大数据战略，全面实施《中国制造2025》，落实和完善“双创”政策措施。部署启动面向2030年的科技创新重大项目，支持北京、上海建设具有全球影响力的科技创新中心，新设6个国家自主创新示范区。全社会研发经费支出与国内生产总值之比达到2.08%。国内有效发明专利拥有量突破100万件，技术交易额超过1万亿元。科技进步贡献率上升到56.2%，创新对发展的支撑作用明显增强。